Market Snapshot

Singapore stocks opened higher on Monday. STI rose 0.2%; DBS rose 0.8%; Keppel rose 0.7%; SGX rose 0.5%; OCBC rose 0.3%; UOB rose 0.2%.

Stocks in Focus

Singapore Exchange (SGX): The Monetary Authority of Singapore (MAS) on Friday proposed various legislative and regulatory changes to facilitate the establishment of the SGX-Nasdaq dual-listing bridge. MAS is seeking feedback on using a single prospectus for a dual listing as well as proposing an amendment that will enable earlier engagement of retail investors after an initial public offering is lodged. SGX shares closed S$0.20 or 1.2 per cent higher at S$17.51 on Friday, before the news.

Nam Lee Pressed Metal Industries: Shareholders of Nam Lee voted on Friday to remove chairman Joanna Yong as a director of the company, following a requisition by two substantial shareholders that left the board in the dark regarding their motives. Yong ceased to be the chairman and executive director with immediate effect. Shares of Nam Lee ended at S$0.66, S$0.02 or 3.1 per cent higher on Friday, before the news.

SG Local News

"One of the Best Years Ever": DBS’ Equities Head Sees Buoyant 2026 for Singapore IPOs

Initial public offering (IPO) volumes on the Singapore bourse in 2026 could be “substantially much more” than the level set in 2017 – the strongest year for listings in the last decade – said Art Karoonyavanich, managing director and global head of equity capital markets at DBS.

“If you look at 2026, the volume will likely be better – (perhaps) one of the best years ever, in terms of IPO volume for Singapore,” he told The Business Times in a recent interview.

The Singapore Exchange (SGX) raised US$4.4 billion in IPO proceeds from 36 listings in 2017, Bloomberg data indicated, a level that has not been matched in the past decade.

Successful Bidders for HDB Shops Must Commit to Tendered Rent for 6 Years, up from 3

Successful bidders of all new Housing and Development Board (HDB) shop tenders must now commit to their rent for six years, or two tenancy terms, up from the current three years.

"By requiring tenderers to commit to tendered rent over a longer period, our aim is to encourage tenderers to bid prudently," HDB said in a media release on Saturday (Jan 10).

This new measure, which kicked in on Saturday, followed concerns over rising rental bids for shops in HDB estates, after a record-high S$52,000 monthly rental bid was made for a Tampines GP clinic.